BIT Mining Invests Another $11M in Ohio Crypto Mining Data Center

The funding will be used to add an extra 65 megawatts of power capacity.

Oct 18, 2021 at 12:26 p.m. UTC
Updated Oct 18, 2021 at 1:24 p.m. UTC

Cryptocurrency mining company BIT Mining (NYSE: BTCM) is investing another $11 million in the Ohio site it is developing with Viking Data Centers.

  • BIT Mining said $9.8 million will be paid in cash and the rest in cash or shares.
  • That’s on top of the $12.4 million it agreed to invest in September.
  • The investment will take BIT Mining’s interest in the site to 55%, with Viking at 45%.
  • As a result of the investment, the site’s power to capacity will climb to 150 megawatts (MW), up from the 85 MW originally planned.
  • The companies expect to complete the process by March 31, 2022.

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Tanzeel Akhtar is a CoinDesk news reporter based in Europe.